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SETTLEMENT AGREEMENT

Settlement Agreement

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Springbrook Investments, L.P | SPT Real Estate Finance, LLC

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Title: SETTLEMENT AGREEMENT
Governing Law: California     Date: 9/11/2009

SETTLEMENT AGREEMENT, Parties: springbrook investments  l.p , spt real estate finance  llc
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Exhibit 10.3

SETTLEMENT AGREEMENT

     THIS SETTLEMENT AGREEMENT (the “ Agreement ”) is made and dated as of September 3, 2009, by and between Springbrook Investments, L.P., a California limited partnership (“ Borrower ”), and SPT Real Estate Finance, LLC, a Delaware limited liability company (“ Lender ”).

RECITALS

     A. Borrower is the maker of that certain promissory note dated March 29, 2006 in the original principal amount of $5,187,000 (the “ Note ”) payable to Vineyard Bank, N.A., a national banking association (“ Original Lender ”). The Note is secured by a deed of trust recorded on March 31, 2006 in the Official Records of the Recorder of Riverside County, California (“ Official Records ”) as document no. 2006-0229400, as modified by that certain Modification of Deed of Trust recorded in the Official Records on May 26, 2006 as document no, 2006-0386956, that certain Modification of Deed of Trust recorded in the Official Records on September 26, 2006 as document no. 2006-0709116 and that certain Modification of Deed of Trust recorded in the Official Records on February 15, 2008 as document no. 2008-0077706 (collectively, the “ Deed of Trust ”) encumbering certain real property more particularly described on Exhibit A hereto (the “ Property ”).

     B. Lender is the successor-in-interest to Original Lender’s rights under the Note and the Deed of Trust, as evidenced by that certain Memorandum of Assignment of Note, Deed of Trust and Loan Documents recorded on August 26, 2009 in the Official Records as document no. 444428 by and between Aware Development Company, Inc., a California corporation (“ Aware ”), and Lender. Aware succeeded to Original Lender’s rights under the Note and Deed of Trust as evidenced by that certain Assignment of Construction Deed of Trust and Fixture Filing recorded on April 8, 2009, in the Official Records as document no. 2009-170509.

     C. The Note is in default and all obligations of Borrower thereunder have been declared due and payable in full. Borrower has agreed that it is in its best interests for Borrower to execute and deliver to Lender a grant deed to the Property in consideration for the discharge by Lender of all obligations of Borrower to Lender under the Note and Deed of Trust (collectively, the “ Loan Documents ”) and the release by Lender of claims under the Loan Documents against Borrower and its general and/or limited partners, all on the terms and subject to the conditions set forth more particularly in this Agreement.

     NOW, THEREFORE, in consideration of the above Recitals and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows:

AGREEMENT

     1.  Delivery of Closing Documents . On or before the Effective Date (as that term is defined in Paragraph 10 below), Borrower shall execute and deliver or cause to be executed and

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delivered to Lender each of the following (the “ Closing Documents ”):

          (a) A grant deed in the form of Exhibit B attached hereto (the “ Grant Deed ”);

          (b) A release in the form of Exhibit C attached hereto;

          (c) An affidavit of Borrower in the form of Exhibit D attached hereto;

          (d) A partnership authorization from Borrower in the form of Exhibit E attached hereto;

          (e) A FIRPTA certificate in the form of Exhibit F attached hereto, and

          (f) A Form 593 in the form of Exhibit G attached hereto.

     2.  Delivery of Release by Lender . Upon the Effective Date, Lender shall deliver to Borrower a release in the form of Exhibit H attached hereto, duly executed by Lender.

     3.  Delivery of Property Documents . On or before the Effective Date, Borrower shall deliver to Lender originals of any and all assignable “Entitlements” (as defined in Paragraph 5 below) which are in Borrower’s possession or control.

     4.  Delivery of Miscellaneous Items . Borrower has heretofore made or shall hereafter make available to Lender, to the extent in Borrower’s possession or under its control and reasonably needed for Lender’s continued ownership and/or development of the Property, each of the items described on Exhibit I attached hereto. Lender shall have access to all such items and may take possession of such items at any time on or after the Effective Date, and to the extent Lender does not take possession of any such items on the Effective Date, Borrower shall reasonably cooperate with Lender to make such items available to Lender thereafter.

     5.  Representations and Warranties of Borrower . Borrower hereby represents and warrants to Lender that, to the best of Borrower’s current actual knowledge, without any independent inquiry or investigation, at the date of execution hereof and at and as of the Effective Date:

          (a) Organization . Borrower is a limited partnership duly organized and validly existing under the laws of the State of California.

          (b) Authorization . The execution, delivery and performance by Borrower of this Agreement and the Closing Documents to which it is a party have been duly authorized by all necessary partnership action and do not require the consent or approval of any person or entity and will not contravene any law, regulation or contractual restriction applicable to or binding upon Borrower or the Property.

          (c) Entitlements . Borrower has previously or concurrently herewith delivered

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to Lender copies of all licenses, approvals, zoning, registrations, permits and other authorizations necessary to the development of the Property (the “ Entitlements ”) which are in Borrower’s possession or control.

          (d) No Litigation . Except as set forth on Exhibit J attached hereto, there is no litigation pending against Borrower or the Property, and Borrower has received no notice of any litigation threatened against Borrower or the Property.

          (e) “Foreign Person”. Borrower is not a “foreign person” within the meaning of Section 1445(d)(3) of the Internal Revenue Code.

          (f) No Mechanics Liens . Borrower has not received actual notice of any claims or liens for labor done or materials or services furnished at or to the Property.

     6.  Assumed Obligations . Lender hereby agrees to assume, from and after the Effective Date, any liability or obligations arising from any matters of record affecting the Property accruing from and after the Effective Date (collectively, the “ Assumed Obligations ”).

     7.  Disclaimer of Liability to Third Parties . Lender acknowledges that Lender is acquiring the Property subject only to the Assumed Obligations, and then only to the extent Lender would be subject to such obligations in the event Lender acquired the Property through judicial or non-judicial foreclosure proceedings. Lender hereby expressly declines to assume and disclaims any other obligations or liabilities of Borrower or the Property to third parties (including, without limitation, employees or past employees of Borrower) under applicable laws or under any contracts or agreements, except for the Assumed Obligations. Borrower covenants and agrees for the benefit of Lender to satisfy and discharge any and all obligations of Borrower other than the Assumed Obligations and to indemnify, defend and hold Lender harmless with respect to the same at all times from and after the Effective Date.

     8.  Cooperation; Other Matters . Prior to, at and at all times following the Effective Date, Borrower agrees to reasonably cooperate with Lender and in furtherance of the foregoing agrees to execute and deliver (or cause to be executed and delivered) to Lender and to do (or cause to be done) such other acts and things as may reasonably be deemed necessary or desirable by Lender and as are reasonably consistent with this Agreement to reasonably assure to Lender the benefit of this Agreement and the Closing Documents; provided, however, that any reasonable out-of-pocket costs incurred by Borrower in connection therewith shall be reimbursed by Lender. Following the execution of this Agreement and prior to the Effective Date, Borrower will not enter into any leases or contracts that would be binding on the Property and/or Lender without Lender’s prior written consent, which may be withheld in Lender’s sole and absolute discretion.

     9.  Tax Protest . Prior to the date hereof, Borrower initiated a real property tax appeal (the “ Appeal ”) with the County of Riverside Assessor’s Office with respect to property taxes for the Property for taxable year(s) ending prior to the Effective Date and/or for the 2009-2010 tax year. Borrower hereby assigns, without recourse or warranty, all of Borrower’s right, title and

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interest in and to any and all property tax refunds (collectively, the “ Refunds ”) to Lender, and Borrower covenants and agrees that upon receipt of any Refund, whether before or after the Effective Date, Borrower shall deliver to Lender any sums so received from the County, which assignment and agreement are expressly subject to and conditioned upon the closing of Borrower’s transfer of the Property to Lender.

     10.  Effective Date . For purposes of this Agreement, the term “ Effective Date ” shall mean the date as of which all of the following shall have occurred:

          (a) There have been delivered to the Lender duly executed and acknowledged as required, each of the following:

               (1) This Agreement;

               (2) The Closing Documents and all deliveries in connection therewith;

               (3) Evidence reasonably satisfactory to Lender that upon recordation of the Grant Deed Lender’s title to the Property will be insured by a policy of title insurance issued by Commerce Title, which policy of title insurance will be in full force and effect, will be subject only to reasonable exceptions approved by Lender and will be issued in accordance with and subject to the requirements of the recording instructions in the form of Exhibit K attached hereto; and

          (b) The Grant Deed has been duly recorded consistent with the recording instructions in the form of Exhibit K attached hereto.

If the Effective Date shall not have occurred on or before September 4, 2009 then this Agreement shall, at the option of Lender (as evidenced by written notice to such effect delivered by Lender to Borrower), terminate, the agreements of Lender contained herein shall be null and void, and Lender may proceed to exercise any and all rights, powers and remedies it has under the Loan Documents.

     11.  Headings . Paragraph headings contained in this Agreement are for reference purposes only, and shall not affect in any way the meaning or interpretation of this Agreement.

     12.  Entire Agreement; Counterparts . This Agreement, the Exhibits attached hereto and the documents referred to herein or executed concurrently herewith in connection herewith, constitute the entire agreement between the parties with respect to the subject matter hereof, and there are no prior agreements, understandings, restrictions, warranties or representations among the parties with regard thereto. This Agreement may be executed in multiple counterparts, each of which shall constitute an original but all of which, when taken together, shall constitute but one and the same document.

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     13.  Time of the Essence . Time is of the essence with respect to all of the terms, conditions and obligations set forth herein.

     14.  Governing Law . This Agreement shall be governed by and construed in accordance with the laws of the State of California.

     15.  Amendment and Waiver . Neither this Agreement, the Closing Documents or any of the provisions hereof or thereof may be modified, waived, discharged or terminated, except by an instrument in writing signed by the party against whom enforcement of the modification, waiver, discharge or termination is sought.

     16.  Attorneys’ Fees . Each of the parties hereto agrees to pay all fees and expenses, including, without limitation, reasonable attorneys’ fees, incurred by it in connection with the preparation and negotiation of this Agreement and the other Closing Documents and the closing of the transactions contemplated hereby. In any action brought by either party to enforce any of such party’s rights or remedies under this Agreement or under the Closing Documents, the prevailing party shall be entitled to all reasonable attorneys’ fees and all costs, expenses and disbursements in connection with such action. The obligations of the parties hereunder shall survive the closing of the transactions contemplated hereby or, if the Effective Date does not occur as contemplated by Paragraph 10 above, the termination of this Agreement.

     17.  Survival . All of the covenants and agreements of the parties hereunder shall survive the Effective Date, the recordation of the Grant Deed and the consummation of the transactions contemplated hereby.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.

 

 

 

 

 

 

 

 

 

 

 

LENDER :

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SPT Real Estate Finance, LLC, a Delaware limited
liability company

 

 

 

 

 

 

 

 

 

 

 

By:

 

Shopoff Partners, L.P., a Delaware limited Partnership, sole member

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

 

Shopoff General Partner, LLC, a
Delaware limited liability company,
general partner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

 

Shopoff Properties, Trust, Inc., a Maryland corporation, Manager

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By:  

/s/ William A. Shopoff  

 

 

 

William A. Shopoff,
President and Chief

 

 

 

Executive Officer 

 

 

 

 

 

 

 

BORROWER :

 

 

 

 

 

Springbrook Investments, L.P., a California limited partnership

 

 

 

 

 

By:   Highgrove, Inc., its General Partner

 

 

 

 

 

 

 

By:  

/s/ William A. Shopoff  

 

 

 

William A. Shopoff, Secretary 

 

 

 

 

 

 

 

 

By:  

/s/ Cindy I. Shopoff  

 

 

 

Cindy I. Shopoff, President 

 

 

 

 

 

 

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SCHEDULE OF EXHIBITS

 

 

 

EXHIBIT

 

DESCRIPTION

 

A

 

Legal Description of Property

 

 

 

B

 

Form of Grant Deed

 

 

 

C

 

Form of Borrower’s Release

 

 

 

D

 

Form of Affidavit of Borrower

 

 

 

E

 

Form of Borrower Partnership Authorization

 

 

 

F

 

Form of FIRPTA Certificate

 

 

 

G

 

Form of Form 593

 

 

 

H

 

Form of Lender’s Release

 

 

 

I

 

Schedule of Additional Closing Items

 

 

 

J

 

Litigation Disclosure

 

 

 

K

 

Form of Recording Instructions

 


 

Exhibit A

Legal Description of Property

Exhibit A, p.1 of 1

 


 

Real property in the City of Riverside, County of Riverside, State of California, described as follows:

PARCEL 1 (349-170-003):

GOVERNMENT LOT 4 IN THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF.

EXCEPT THAT PORTION INCLUDED WITHIN THAT PORTION DESCRIBED AS FOLLOWS:

BEGINNING AT THE NORTHEAST CORNER OF HOMESTEAD QUARTZ MINE, KNOWN AS LOT 39 , IN SAID SECTION 22; THENCE NORTH, TO THE SOUTH LINE OF THE NORTHEAST 1/4 OF SAID SECTION; THENCE WEST, TO THE INTERSECTION OF SAID SOUTH LINE OF THE NORTHEAST 1/4 OF SAID SECTION WITH THE NORTH LINE OF SAID LOT 39; THENCE SOUTHEASTERLY FOLLOWING THE NORTH LINE OF SAID LOT 39, TO THE POINT OF BEGINNING.

ALSO EXCEPTING THE EASTERLY 690 FEET OF SAID GOVERNMENT LOT 4.

ALSO EXCEPTING THE SOUTHERLY 530 FEET.

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 23, 1972 AS INSTRUMENT NO. 23316 OF OFFICIAL RECORDS.

PARCEL 2: (349-170-004):

THE NORTHERLY 330 FEET OF THE EASTERLY 690 FEET OF GOVERNMENT LOT 4 IN THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF;

EXCEPT THAT PORTION INCLUDED WITH THAT PORTION DESCRIBED AS FOLLOWS:

THE WESTERLY 60 FEET OF SAID EASTERLY 690 FEET FOR ROAD AND WIND VISIBILITY PURPOSES;

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 23, 1972 AS INSTRUMENT NO. 23314 OF OFFICIAL RECORDS.

PARCEL 3 (349-170-005):

THE SOUTH 330 FEET OF THE NORTH 660 FEET OF THE EASTERLY 690 FEET OF GOVERNMENT LOT 4 IN THE SOUTHEAST 1/4 OF SECTION 22 , TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN.

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 23, 1972 AS INSTRUMENT NO. 23314 OF OFFICIAL RECORDS.

PARCEL 4 (349-170-006):

Exhibit A, p.2 of 1

 


 

THE SOUTH 1/2 OF THE EASTERLY 690 FEET OF GOVERNMENT LOT 4, IN THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLATS THEREOF

EXCEPTING THE SOUTHERLY 330 FEET OF SAID EASTERLY 690 FEET OF GOVERNMENT LOT 4.

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 23, 1972 AS INSTRUMENT NO. 23314 OF OFFICIAL RECORDS.

PARCEL 5 (349-170-008):

THE EASTERLY 1/2 OF THE SOUTHERLY 560 FEET OF GOVERNMENT LOT 2 IN THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF.

EXCEPTING THE SOUTHERLY 265 FEET OF SAID GOVERNMENT LOT 2

ALSO EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 25, 1972 AS INSTRUMENT NO. 24579 OF OFFICIAL RECORDS.

PARCEL 6 (349-170-011):

THE EAST 1/2 OF THE SOUTHERLY 265 FEET OF GOVERNMENT LOT 2 IN THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING THE OFFICIAL PLAT THEREOF.

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 29, 1972 AS INSTRUMENT NO. 26947 OF OFFICIAL RECORDS.

PARCEL 7 (349-170-013)

THE EASTERLY 690 FEET OF GOVERNMENT LOT 4 IN THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN.

EXCEPTING THEREFROM THE NORTH 990 FEET THEREOF.

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 23, 1972 AS INSTRUMENT NO. 23314 OF OFFICIAL RECORDS.

PARCEL 8 (349-180-002):

THE NORTH 1/2 OF THE NORTHWEST 1/4 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST SAN BERNARDINO AND MERIDIAN.

PARCEL 9 (349-180-004):

THE SOUTH 1/2 OF THE NORTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST SAN BERNARDINO AND MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF.

Exhibit A, p.3 of 1

 


 

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 25, 1972 AS INSTRUMENT NO. 24577 OF OFFICIAL RECORDS.

PARCEL 10 (349-180-006):

THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF;

EXCEPT THAT PORTION DESCRIBED AS FOLLOWS:

BEGINNING AT A POINT ON THE WEST LINE OF THE SOUTHEAST 1/4 OF SAID SECTION, 66 FEET SOUTH OF THE NORTHWEST CORNER OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION; THENCE EAST 660 FEET, PARALLEL WITH THE NORTH LINE THEREOF; THENCE SOUTH 594 FEET PARALLEL WITH THE WEST LINE OF THE SOUTHEAST 1/4 OF SAID SECTION; THENCE WEST 660 FEET, PARALLEL WITH THE NORTH LINE OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION, TO A POINT ON THE WEST LINE THEREOF; THENCE NORTH 594 FEET ON SAID WEST LINE TO THE POINT OF BEGINNING.

ALSO EXCEPTING THE SOUTHERLY 1/2 OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 22.

ALSO EXCEPTING THE NORTHERLY 66 FEET OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, AND THE SOUTHERLY 330 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22.

ALSO EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 28, 1972 AS INSTRUMENT NO. 25409 OF OFFICIAL RECORDS.

PARCEL 11 (349-180-007):

THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF;

EXCEPT THAT PORTION DESCRIBED AS FOLLOWS:

BEGINNING AT A POINT ON THE WEST LINE OF THE SOUTHEAST 1/4 OF SAID SECTION, 66 FEET SOUTH OF THE NORTHWEST CORNER OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION; THENCE EAST 660 FEET, PARALLEL WITH THE NORTH LINE THEREOF; THENCE SOUTH 594 FEET; PARALLEL WITH THE WITH WEST LINE OF THE SOUTHEAST 1/4 OF SAID SECTION; THENCE WEST 660 FEET, PARALLEL WITH THE NORTH LINE OF THE SOUTHWEST 1/4 OF SAID SECTION, TO A POINT ON THE WEST LINE THEREOF; THENCE NORTH 594 FEET ON SAID WEST LINE TO THE POINT OF BEGINNING.

ALSO EXCEPTING THE SOUTHERLY 1/2 OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SAID SECTION 22.

ALSO EXCEPTING THE NORTHERLY 330 FEET OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, AND THE SOUTHERLY 30 FEET OF THE NORTHEAST 1/4 OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22.

ALSO EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 28, 1972 AS INSTRUMENT NO. 25409 OF OFFICIAL RECORDS.

Exhibit A, p. 4 of 1

 


 

PARCEL 12 (349-180-016):

THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF;

EXCEPT THE SOUTHERLY 374 FEET OF THE SOUTHWEST 1/4 OF THE SOUTHEAST 1/4 OF SOUTHEAST 1/4 OF SAID SECTION;

EXCEPTING THEREFROM 1/2 OF ALL OIL, GAS AND MINERAL RIGHTS, RESERVED IN THE DEED RECORDED FEBRUARY 25 , 1972 AS INSTRUMENT NO. 24577 OF OFFICIAL RECORDS.

PARCEL 13 (349-180-020):

THE EASTERLY 1/2 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN.

EXCEPT THE SOUTHERLY 374 FEET OF SAID SOUTHEAST 1/4.

PARCEL 14 (349-160-010):

THE NORTHWEST 1/4 OF THE EASTERLY HALF OF THE SOUTHERLY HALF OF THE SOUTHWEST QUARTER OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, RECORDS OF RIVERSIDE COUNTY, CALIFORNIA.

PARCEL 15 (APN 349-170-009):

THE WESTERLY HALF OF THE SOUTHERLY 560 FEET OF THE GOVERNMENT LOT 2 IN THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO MERIDIAN, IN THE COUNTY OF RIVERSIDE, STATE OF CALIFORNIA, ACCORDING TO THE OFFICIAL PLAT THEREOF.

EXCEPTING THE SOUTHERLY 265 FEET OF SAID GOVERNMENT LOT 2.

PARCEL 16 (APN 349-170-007):

THE NORTH 265 FEET MORE OR LESS OF THE SOUTH 530 FEET MORE OR LESS OF THE WEST 640 FEET MORE OR LESS OF GOVERNMENT LOT 4 IN THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN.

PARCEL 17 (APN 349-180-008):

THE SOUTH 30 FEET OF THE SOUTH HALF OF THE NORTHEAST QUARTER OF THE SOUTHWEST QUARTER OF THE SOUTHEAST QUARTER OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN.

PARCEL 18 (APN 349-180-017):

Exhibit A, p. 5 of 1

 


 

THE SOUTH 30 FEET OF THE NORTH 316 FEET OF THE SOUTHWEST 1 / 4 OF THE SOUTHEAST 1 / 4 OF THE SOUTHEAST 1 / 4 OF SECTION 22. TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN.

PARCEL 19 (APN 349-180-001 Now 349-180-035):

THE NORTH 66 FEET OF THE SOUTHWEST 1 / 4 OF THE SOUTHEAST 1 / 4 OF SECTION 22, TOWNSHIP 5 SOUTH, RANGE 4 WEST, SAN BERNARDINO BASE AND MERIDIAN.

PARCEL


 
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